Small IT companies shrug off Brexit's impact
‘Little’ or ‘none’ is how the UK’s small technology-led companies have described the impact of Brexit on their Software or IT Services business.
More than 40 per cent of such SITS suppliers with between one and 50 staff members said the UK’s decision to exit the EU has had “no impact” on their operations to date.
Although one in 10 have had orders delayed but since agreed, and almost twice as many delayed but not signed, most say that their tech business will stay largely unaffected by 2019.
In fact, 59 per cent of SITS suppliers predict “little or no impact” from Brexit on their business even once the UK is no longer a member of the European Union, according to TechMarketView.
The IT analyst house also found 28 per cent to be pessimistic -- predicting a decline in their business once the UK quits the EU, compared to 13 per cent who foresee an increase.
But more significantly it seems, this optimistic proportion expecting an upturn for their IT business more than doubles -- to 28% -- for the year following March 2019.
SITS suppliers in the public sector are typically more upbeat than their private sector counterparts about the 12 months post-Brexit. But they've also been the hardest hit so far.
“In the public sector, the lack of clarity and uncertainty is leading to delays in decision-making and orders taking longer to complete,” said TechMarketView’s Dale Peters.
“[They are] particularly concerned about a potential economic downturn and the increased pressure on public sector finances.”
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